Delta Investment Management LLC Sells 299 Shares of State Street Co. (NYSE:STT)

Delta Investment Management LLC lowered its position in shares of State Street Co. (NYSE:STT) by 6.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,423 shares of the asset manager’s stock after selling 299 shares during the period. Delta Investment Management LLC’s holdings in State Street were worth $343,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Citizens Financial Group Inc. RI lifted its stake in shares of State Street by 6.1% in the 4th quarter. Citizens Financial Group Inc. RI now owns 3,350 shares of the asset manager’s stock valued at $260,000 after acquiring an additional 193 shares during the last quarter. Syon Capital LLC lifted its stake in shares of State Street by 3.7% in the 4th quarter. Syon Capital LLC now owns 4,735 shares of the asset manager’s stock valued at $367,000 after acquiring an additional 168 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its stake in shares of State Street by 3.7% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 8,061 shares of the asset manager’s stock valued at $624,000 after acquiring an additional 288 shares during the last quarter. Alaska Permanent Fund Corp raised its position in State Street by 1.0% during the 4th quarter. Alaska Permanent Fund Corp now owns 31,812 shares of the asset manager’s stock valued at $2,464,000 after purchasing an additional 312 shares during the last quarter. Finally, Private Management Group Inc. raised its position in State Street by 1.0% during the 4th quarter. Private Management Group Inc. now owns 543,502 shares of the asset manager’s stock valued at $42,100,000 after purchasing an additional 5,542 shares during the last quarter. Institutional investors own 87.44% of the company’s stock.

Insider Activity

In other news, EVP Anthony Bisegna sold 4,258 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $73.64, for a total transaction of $313,559.12. Following the transaction, the executive vice president now directly owns 23,328 shares of the company’s stock, valued at approximately $1,717,873.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Anthony Bisegna sold 4,258 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $73.64, for a total value of $313,559.12. Following the transaction, the executive vice president now directly owns 23,328 shares of the company’s stock, valued at approximately $1,717,873.92. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Eric W. Aboaf sold 12,000 shares of the firm’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $73.90, for a total value of $886,800.00. Following the completion of the transaction, the chief financial officer now directly owns 149,063 shares in the company, valued at $11,015,755.70. The disclosure for this sale can be found here. Insiders have sold 18,864 shares of company stock valued at $1,390,597 in the last ninety days. 0.31% of the stock is currently owned by company insiders.

State Street Stock Performance

Shares of NYSE STT traded up $0.10 during midday trading on Friday, hitting $73.39. 2,749,354 shares of the stock traded hands, compared to its average volume of 2,811,264. The firm has a 50-day moving average of $74.16 and a two-hundred day moving average of $72.74. The firm has a market capitalization of $22.16 billion, a P/E ratio of 13.74, a PEG ratio of 1.30 and a beta of 1.52. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.55 and a current ratio of 0.61. State Street Co. has a one year low of $62.78 and a one year high of $79.90.

State Street Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Monday, April 1st were issued a dividend of $0.69 per share. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $2.76 annualized dividend and a dividend yield of 3.76%. State Street’s payout ratio is 51.69%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on STT shares. Keefe, Bruyette & Woods lowered their price target on State Street from $89.00 to $86.00 and set a “market perform” rating for the company in a research report on Monday, January 22nd. Royal Bank of Canada upped their target price on State Street from $75.00 to $85.00 and gave the stock a “sector perform” rating in a report on Monday, January 22nd. JPMorgan Chase & Co. upped their price target on State Street from $79.50 to $80.50 in a research note on Friday, April 12th. Evercore ISI upped their price target on State Street from $85.00 to $88.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. Finally, Bank of America restated an “underperform” rating and issued a $81.00 price target on shares of State Street in a research note on Thursday, January 4th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $84.04.

About State Street

State Street Corporation, through its subsidiaries, provides a range of financial products and services to institutional investors worldwide. The company offers investment servicing products and services, including custody, accounting, regulatory reporting, investor, and performance and analytics; middle office products, such as IBOR, transaction management, loans, cash, derivatives and collateral, record keeping, and client reporting and investment analytics; finance leasing; foreign exchange, and brokerage and other trading services; securities finance and enhanced custody products; deposit and short-term investment facilities; investment manager and alternative investment manager operations outsourcing; performance, risk, and compliance analytics; and financial data management to support institutional investors.